EXHIBIT 12 Dean Foods Company Computation of Ratio of Earnings to Fixed Charges ------------------------------------------------- Thirty-Nine Weeks Fiscal Years Ending May Ending February ---------------------------------------------- 1995 1994 1993 1992 1991 1990 ---- ---- ---- ---- ---- ---- Income before taxes $ 92,269 $118,313 $114,759 $105,527 $124,340 $102,066 --------------------------------------------------------------- Fixed charges: Interest expense 16,567 15,471 14,888 15,551 16,780 12,682 Debt issue costs 83 123 155 118 128 93 Portion of rentals (33%) 5,248 6,997 7,653 9,124 8,528 8,350 ------------------------------------------------------------- Total fixed charges 21,898 22,591 22,696 24,793 25,436 21,125 ------------------------------------------------------------- Earnings before taxes and fixed charges $114,167 $140,904 $137,455 $130,320 $149,776 $123,191 ============================================================== Ratio of earnings to fixed charges 5.2 6.2 6.1 5.3 5.9 5.8 ==============================================================